The Travelexchange thing has closed yes, although the ATM seems to still work, not that that makes a lot of difference.
The air show has received a lifeline, there are two possible options, 'long-shots' is the wrong word, 'delicate' is probably the best way to describe the funding situation. Deadline day is Tuesday PM as the RAF need a definite yay or nay on Wednesday so they can allocate assets. It's also worth mentioning that the RAF display teams have suffered heavily this year at the hands of cost-cutting, there will be no Hawk, King Air or Tornado role demo this year, possibly no Tutor either, having said that, the general feeling is civvy display teams are just as good and there will still be a significant RAF presence should it go ahead.
Also, should the funding not become available, the air show won't be cancelled per se, just postponed until 2014.